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Penn St. wants quick Sandusky settlements

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10:10 AM ET 07.29 | Penn State is adequately covered to handle lawsuits stemming from the sexual-abuse scandal that has enveloped the campus, its president said, repeating that the university hopes to settle many of them "as quickly as possible" even though its insurer has sought to limit claims. Rodney Erickson told CBS's "Face the Nation" program in an interview taped for airing Sunday that the university has general liability coverage like any institution of its size. "We believe that we are adequately covered," he said in a clip posted Saturday on the program's website. "In addition to that, we hope to be able to settle as many of these cases as quickly as possible," Erickson said. "We don't want to, if at all possible, drag victims through another round of court cases and litigation. If we can come to an agreement with them, with their attorneys, we believe that would be the best possible outcome in this whole very, very difficult, tragic situation." Retired assistant football coach Jerry Sandusky was convicted last month of abusing 10 boys over 15 years in one of the worst scandals in sports history. Penn State's general liability insurer sought last week to deny or limit coverage for Sandusky-related claims. Pennsylvania Manufacturers' Association Insurance argued that Penn State withheld information needed to assess risk.

Associated Press

Jerry Sandusky, Icon SMI

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July 29, 2012 10:11 AM ET

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Pay To Not Play, Bros?

I Love LA

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July 29, 2012 10:23 AM ET

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Hummph...they went years ignoring it. Now they are in a hurry.

Deep Creek

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July 29, 2012 10:25 AM ET

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Crikey, X-File moment. Mike D'Antoni and "he who shall not be named" look a hell of a lot alike.

Leprechaun Flotsam

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July 29, 2012 10:36 AM ET

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While they wait to make a settlement, maybe they can tell the public what steps are now in place for this to not happen again, and How they will handle Sexual Complaints in the future! We are not deaf, so let's hear it!

Not4Nutten

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July 29, 2012 10:39 AM ET

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QUOTE(#4):

Originally posted 10:34 AM ET 07.29 by Dolemite censored

This will be interesting; the insurers are on the hook, but they will try to deflect some back to Penn State.

They might not be on the hook. They might have a fraud claim against psu for non-disclosure

SL Guido

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July 29, 2012 10:42 AM ET

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QUOTE(#2):

Originally posted 10:23 AM ET 07.29 by Deep Creek

Hummph...they went years ignoring it. Now they are in a hurry.

Yeah, I was thinking the same thing. I doubt very much that some of these civil cases will end in a hurry!!!

The Oldtimer

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July 29, 2012 10:43 AM ET

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QUOTE(#6):

Originally posted 10:39 AM ET 07.29 by SL Guido

They might not be on the hook. They might have a fraud claim against psu for non-disclosure

Damn good point!!!!!!!!

The Oldtimer

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July 29, 2012 10:52 AM ET

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Penn State is desperate for this to be finished. Of course they want quick settlements, but there's no love for the victims in that desire.

CardsFan2

Saint Louis , MO

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July 29, 2012 10:55 AM ET

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QUOTE(#6):

Originally posted 10:39 AM ET 07.29 by SL Guido

They might not be on the hook. They might have a fraud claim against psu for non-disclosure

I would bet that is exactly the case if it's a standard umbrella policy for errors and omissions.

Deep Creek

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July 29, 2012 11:17 AM ET

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Penn st wants quick settlement?? Anyway ya flip it Penn st is scarred for life, just like the victims.

VanByTheRiver

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July 29, 2012 11:19 AM ET

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Hey maybe I could....... Oh never mind

Praetorian.

Borger, TX

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July 29, 2012 11:57 AM ET

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They do not play in the SEC...so it will not be quick!

Hippy Weed

Columbus , OH

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July 29, 2012 04:55 PM ET

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QUOTE(#16):

Originally posted 03:07 PM ET 07.29 by colonel

Could the student body as a whole sue, deflamation of the character of their University?

I think this will blow over in a day or two.

Hippy Weed

Columbus , OH

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July 30, 2012 08:46 AM ET

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America is giving everything else away free might as well give the Sandusky victims another free check. Don't provide a free life to these welfare kids. Make them earn a living, hire them as janitors or something at Penn State.